You are right and the index you are talking about is trading below its 20 day moving average, 50 day moving average, 50 week moving average, and 200 day moving average.
It's going to break next week San (the support line in your chart). But, I think we will rally a little early in the week first. The turn dates of the 26th-27th should start a move down that will take out 10,000.
Ok gang, I don't usually do Friday posts, (and I still didn't), but I did put up a new video for you guys. Just refresh the page to see it. I'll still have the weekend post update by late Sunday night. Have a good weekend everyone.
Yes… very fun now Geccko. The rallies back are weak. While I also expect some kind of rally early next week, I don't think it will go too high. If it just chops sideways for several days, then the sell off afterwards would be extremely ugly.
It's looking more and more like a wave 3 of 3 of 3 is coming toward the end of next week. Go Bears.
This is getting fun. Pause day but still with negative breadth. 20day average is starting to roll over. Big boy CVX (chevron) free falling and making a new low on this move down. I just bought some DUG and bought some other inverse ETFs and VXX an hour or so ago. Euro also made a new low. Options expiration is holding up the market today. I can only imagine what it might look like on Monday when the prop job is no longer needed. Chris Carolan is the latest I see to call for a rally into the dreaded August 26 date although the jury is out whether he is a shill or not. Although I was a subscriber of his long ago, I haven't followed him enought to see how his calls are faring (mostly because they don't make it into the blogosphere)
Zstock. I signed up to your service a month ago and still waiting for password. I emailed you again. Please check you gmail.
Thank you.
You are right and the index you are talking about is trading below its 20 day moving average, 50 day moving average, 50 week moving average, and 200 day moving average.
It's going to break next week San (the support line in your chart). But, I think we will rally a little early in the week first. The turn dates of the 26th-27th should start a move down that will take out 10,000.
Dow Jones analysis after closing bell
http://niftychartsandpatterns.blogspot.com/2010…
Ok gang, I don't usually do Friday posts, (and I still didn't), but I did put up a new video for you guys. Just refresh the page to see it. I'll still have the weekend post update by late Sunday night. Have a good weekend everyone.
Yeah, I think they got the blinders on. I'm thinking slightly bullish monday, then hard down. LOL!
I think the crap is about to hit the fan CC… LOL Poor little bulls.
The VIX bull flag.
http://screencast.com/t/OGU3MzM2Y2Qt
Yes… very fun now Geccko. The rallies back are weak. While I also expect some kind of rally early next week, I don't think it will go too high. If it just chops sideways for several days, then the sell off afterwards would be extremely ugly.
It's looking more and more like a wave 3 of 3 of 3 is coming toward the end of next week. Go Bears.
This is getting fun. Pause day but still with negative breadth. 20day average is starting to roll over. Big boy CVX (chevron) free falling and making a new low on this move down. I just bought some DUG and bought some other inverse ETFs and VXX an hour or so ago. Euro also made a new low. Options expiration is holding up the market today. I can only imagine what it might look like on Monday when the prop job is no longer needed. Chris Carolan is the latest I see to call for a rally into the dreaded August 26 date although the jury is out whether he is a shill or not.
Although I was a subscriber of his long ago, I haven't followed him enought to see how his calls are faring (mostly because they don't make it into the blogosphere)